HDFC MF not to accept lumpsum investments in Defence Fund
HDFC Mutual Fund, one of the largest fund houses, has discontinued lumpsum investments in its recently-launched HDFC Defence Fund due to lack of investment opportunity. The scheme was launched on May 19 and the new fund offer closed on May 30. No new SIPs Fresh lumpsum investments, including switch-ins, will not be allowed. However, new […]
SEBI’s SCORES platform disposes of 2,457 complaints in May
A total of 2,457 complaints against companies and market intermediaries have been disposed of through SEBI’s SCORES platform in May. At the beginning of May, as many as 2,984 complaints were pending, and 2,626 fresh complaints were received, according to the data released by markets regulator SEBI on Saturday. The regulator also noted that as […]
Mcap: 6 of top 10 most-valued firms fall by ₹83,637.96 crore; TCS biggest laggard
Six of the top 10 most-valued firms suffered a combined erosion of ₹83,637.96 crore in market valuation last week, with Tata Consultancy Services (TCS), Hindustan Unilever and Infosys taking the biggest hit, amid an overall tepid trend in equities. Last week, the BSE benchmark climbed 78.52 points or 0.12 per cent, while the Nifty gained […]
Cost of your caffeine and sugar fix to stay high on El Niño
There’s an aisle of the grocery store where inflation is looking exceptionally sticky: indulgent treats. Think coffee, chocolates and your favourite snacks. Prices of soft commodities have soared this year because of supply constraints. The return of El Niño and prospects of hotter, drier weather in producing countries is now threatening to exacerbate tight supply. […]
CPPIB sells 1.7 per cent stake in Kotak Bank for ₹6,123.6 crore
Canada Pension Plan Investment Board (CPPIB) sold 3.3 crore shares or 1.7 per cent of the equity of Kotak Mahindra Bank in block deals on the BSE on Friday at an average price of ₹1855.64, exchange data showed. The total deal value was ₹6,123.6 crore. The sale of shares by the pension fund was done […]
Logistics company Western Carriers files DRHP
Kolkata-based Western Carriers (India) Ltd, a multi-modal, rail-focused, asset-light logistics company, has filed its draft red herring prospectus (DRHP) with capital markets regulator SEBI to raise funds through an initial public offering (IPO). According to the DRHP, the IPO comprises of a fresh issue of equity shares aggregating up to ₹500 crore and an offer […]
HAL board meets on June 27 to consider stock split
The board of directors of Hindustan Aeronautics will meet on June 27 to consider a proposal of sub-division of equity shares of the company. The stock on Thursday hit an all-time high of ₹3,546.65 before closing at ₹3,527.70, up 1.12 per cent over previous day’s close of ₹3,488.70. Earlier in 2021 also, the company had […]
Nifty prediction for today – June 8, 2023: Go long now and at 18,805
Nifty 50 June Futures (18,836) The Nifty 50 and Sensex continue to display resilence, with both indices are up about 0.26 per cent each. The Sensex is currently trading at 62,321 points, while the Nifty at 18,776 points. The overall outlook remains bullish, with the Nifty expected to rise to 18,900-19,000 in the next few […]
Cut in expense ratio of MFs will lead to lower tax collection
The new total expense ratio (TER) structure, proposed for mutual funds (MFs) by SEBI, will lead to lower GST and tax collection from the industry as the overall spend and profitability will come down. In a bid to bring down the cost for investors, SEBI has proposed to shift the TER of MFs from scheme […]
EPAM Systems scare bruises IT stocks
Information technology stocks came under heavy pressure on Tuesday after US-based EPAM Systems cut its current quarter and full-year revenue and profit outlook. In a see-saw session, the 30-share BSE Sensex and Nifty managed to close in the green, but Nifty IT index closed 1.88 per cent lower. However, the BSE Smallcap edged up 0.42 […]